The Edmonton Real Estate Blog, Market Information, Advise & OpinionMonday, September 20, 2010 Alberta Sales activity remains soft in AugustCategories:Real Estate News
From CREA, a very interesting post:
Residential sales activity reported through the MLS® Systems of real estate boards in Alberta remained well below year-ago levels in August 2010. According to statistics provided by real estate boards in Alberta, home sales numbered 3,941 units in August 2010, down 27 per cent from a year earlier. Nationally, home sales were down 19 per cent on a year-over-year basis in August. More than half of the decline in provincial activity was the result of a 33 per cent year-over-year decrease in Calgary. Sales activity in Edmonton posted a more moderate 22 per cent decline compared to August 2009. The provincial average price for homes sold in August was $342,571, edging down half of one per cent from a year earlier. The national average price was also little changed, rising by only $85 from year-ago levels to $324,928. Monthly residential average prices were up from year-ago levels in Lloydminster (+5 per cent), Edmonton (+3 per cent), Lethbridge (+2 per cent), North Eastern Alberta (+1 per cent), and Fort McMurray (+0.6 per cent), but edged lower in other areas of the province. The value of all home sales in the province totalled $1.4 billion in August 2010, falling 27 per cent from August 2009. The dollar volume of all home sales in Canada fell 19 per cent. Total sales in Alberta numbered 4,332 units in August, a decrease of 27 per cent from August 2009. The value of those sales amounted to $1.5 billion, also down 27 per cent from year-ago levels. New listings on the MLS® Systems of real estate boards in Alberta edged up four-tenths of one per cent from a year earlier to 8,634 units in August. On a seasonally adjusted basis, however, new listings have been trending lower from the recent peak reached in April. The overall number of homes for sale on the market remains elevated. Active residential listings numbered 31,095 at the end of August. This is up 28 per cent from the same time last year, and stands on par with 2008 levels. There were 7.9 months of inventory at the end of August, up from levels reported one year earlier (4.5 months). The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. The combined value of home sales activity in Calgary was $602.5 million in August 2010, a 33 per cent decrease from year-ago levels. A total of 1,562 home sales were recorded through the MLS® System of the Calgary Real Estate Board in August, also down 33 per cent from one year earlier. The total value of home sales in Edmonton was $426.1 million in August 2010, falling 20 per cent year-over-year. There were 1,305 home sales recorded through the MLS® System of the Edmonton Association of REALTORS®, a decrease of 22 per cent from August 2009.
Important information The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas. The Alberta Real Estate Association represents over 10,185 brokers, salespeople and affiliate (e.g. solicitors, appraisers, banks) members throughout the province. AREA serves its members through a wide variety of educational programs, publications and special services. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict code of ethics. CommentsNo comments Post Your Comment: |
